KUALA LUMPUR: Income tax relief for payments made on education and medical insurance premiums will be increased to RM4,000.
Additionally, the individual tax relief for medical expenses will rise to a maximum of RM10,000, encompassing payments made by taxpayers under medical and health insurance or takaful products with co-payment features.
Prime Minister Datuk Seri Anwar Ibrahim also announced an extension of the income tax exemption for foreign-sourced income received by individuals in Malaysia.
This exemption, initially set to expire on Dec 31, 2026, has now been extended for an additional decade, making it available until Dec 31, 2036.